Diana Shipping (NYSE:DSX) Share Price Passes Above 200 Day Moving Average of $2.88

Diana Shipping Inc. (NYSE:DSX)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.88 and traded as high as $2.91. Diana Shipping shares last traded at $2.87, with a volume of 390,905 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Diana Shipping in a research note on Tuesday, February 6th. They issued a “hold” rating for the company.

Diana Shipping Price Performance

The company has a debt-to-equity ratio of 1.19, a current ratio of 2.14 and a quick ratio of 2.08. The firm has a market capitalization of $327.34 million, a P/E ratio of 6.73 and a beta of 1.20. The firm’s 50 day simple moving average is $2.93 and its two-hundred day simple moving average is $2.88.

Diana Shipping (NYSE:DSX) last posted its quarterly earnings results on Friday, February 23rd. The shipping company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $56.69 million during the quarter, compared to the consensus estimate of $61.02 million. Diana Shipping had a net margin of 19.02% and a return on equity of 10.34%. As a group, analysts predict that Diana Shipping Inc. will post 0.29 earnings per share for the current year.

Diana Shipping Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 10.36%. The ex-dividend date was Monday, March 4th. Diana Shipping’s payout ratio is 69.77%.

Hedge Funds Weigh In On Diana Shipping

A number of hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Diana Shipping in the fourth quarter valued at about $48,000. Jump Financial LLC purchased a new position in shares of Diana Shipping in the fourth quarter valued at about $31,000. Russell Investments Group Ltd. increased its position in shares of Diana Shipping by 2.0% in the fourth quarter. Russell Investments Group Ltd. now owns 256,269 shares of the shipping company’s stock valued at $761,000 after acquiring an additional 4,962 shares during the period. Lesa Sroufe & Co increased its position in shares of Diana Shipping by 6.3% during the fourth quarter. Lesa Sroufe & Co now owns 679,021 shares of the shipping company’s stock valued at $2,017,000 after buying an additional 40,343 shares during the period. Finally, Colonial River Wealth Management LLC purchased a new position in shares of Diana Shipping during the fourth quarter valued at about $53,000. Hedge funds and other institutional investors own 48.68% of the company’s stock.

Diana Shipping Company Profile

Diana Shipping Inc provides shipping transportation services. The company transports a range of dry bulk cargoes, including commodities, such as iron ore, coal, grain, and other materials in shipping routes worldwide. As of March 1, 2024, it operated a fleet of 38 dry bulk vessels, including 4 Newcastlemax, 8 Capesize, 5 Post-Panamax, 6 Kamsarmax, 9 Ultramax, and 6 Panamax.